TNXT vs. BBUS

Last updated Jun 6, 2026

TNXT (T. Rowe Price Innovation Leaders ETF) and BBUS (JP Morgan Betabuilders U.S. Equity ETF) are both Large Cap Growth Equities funds. TNXT is actively managed, while BBUS is passively managed. Their correlation of 0.94 suggests significant overlap in exposure. TNXT charges 0.49%/yr vs 0.02%/yr for BBUS.

Performance

TNXT vs. BBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Innovation Leaders ETF (TNXT) and JP Morgan Betabuilders U.S. Equity ETF (BBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TNXT

• 1D: -4.11%
• 1M: -0.27%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBUS

• 1D: -2.63%
• 1M: 0.61%
• YTD: 8.20%
• 6M: 7.84%
• 1Y: 25.30%
• 3Y*: 21.55%
• 5Y*: 12.93%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TNXT vs. BBUS - Yearly Performance Comparison

	2026 (YTD)
TNXT T. Rowe Price Innovation Leaders ETF	6.10%
BBUS JP Morgan Betabuilders U.S. Equity ETF	6.45%

Correlation

The correlation between TNXT and BBUS is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 30, 2026	0.94

Return for Risk

TNXT vs. BBUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBUS

BBUS Risk / Return Rank: 64
BBUS Sharpe Ratio Rank: 65
BBUS Sortino Ratio Rank: 62
BBUS Omega Ratio Rank: 65
BBUS Calmar Ratio Rank: 57
BBUS Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TNXT vs. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Innovation Leaders ETF (TNXT) and JP Morgan Betabuilders U.S. Equity ETF (BBUS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TNXT	BBUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.09	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.82	+0.03

Drawdowns

TNXT vs. BBUS - Drawdown Comparison

The maximum TNXT drawdown since its inception was -12.97%, smaller than the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for TNXT and BBUS.

Drawdown Indicators

	TNXT	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-12.97%	-35.35%	+22.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.21%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.46%	—
Current Drawdown Current decline from peak	-4.98%	-2.90%	-2.08%
Average Drawdown Average peak-to-trough decline	-3.54%	-5.45%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.01%	—

Volatility

Volatility by Period

	TNXT	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.86%	12.18%	+9.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	17.06%	+4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.86%	19.61%	+2.25%

TNXT vs. BBUS - Expense Ratio Comparison

TNXT has a 0.49% expense ratio, which is higher than BBUS's 0.02% expense ratio.

Dividends

TNXT vs. BBUS - Dividend Comparison

TNXT has not paid dividends to shareholders, while BBUS's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBUS JP Morgan Betabuilders U.S. Equity ETF	1.00%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%
TNXT T. Rowe Price Innovation Leaders ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TNXT and BBUS in my portfolio?

With a correlation of 0.94, TNXT and BBUS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TNXT or BBUS?

On fees, BBUS is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNXT or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.49% for TNXT.

Which ETF pays a higher dividend yield, TNXT or BBUS?

BBUS has the higher dividend yield at 1.00%, compared with 0.00% for TNXT.

What is the main difference between TNXT and BBUS?

They also come from different issuers: T. Rowe Price and JPMorgan. Their fees differ too: 0.49% for TNXT and 0.02% for BBUS.